Global Medical REIT Inc. (NYSE:XRN) Given Average Recommendation of “Hold” by Brokerages

Global Medical REIT Inc. (NYSE:XRN) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $40.25.

A number of research analysts have commented on XRN shares. BMO Capital Markets increased their price objective on Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Zacks Research raised shares of Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Compass Point reiterated a “neutral” rating and issued a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Finally, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Insider Buying and Selling at Global Medical REIT

In related news, Director Charles Fitzgerald acquired 27,600 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $35.94 per share, for a total transaction of $991,944.00. Following the completion of the acquisition, the director directly owned 124,893 shares in the company, valued at approximately $4,488,654.42. The trade was a 28.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Aaron Robert Roseth acquired 13,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $36.73 per share, for a total transaction of $495,855.00. Following the completion of the acquisition, the chief operating officer owned 13,500 shares of the company’s stock, valued at $495,855. This trade represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 71,525 shares of company stock valued at $2,579,304. 8.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Global Medical REIT

Large investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in shares of Global Medical REIT by 30.5% in the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock valued at $10,524,000 after acquiring an additional 355,355 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Global Medical REIT during the 3rd quarter worth about $9,997,000. Marshall Wace LLP raised its holdings in shares of Global Medical REIT by 2,208.2% in the 2nd quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock valued at $2,022,000 after purchasing an additional 279,070 shares during the period. Heartland Advisors Inc. raised its holdings in shares of Global Medical REIT by 177.4% in the 4th quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock valued at $14,288,000 after purchasing an additional 270,786 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in Global Medical REIT in the 3rd quarter valued at about $7,798,000. Institutional investors own 57.52% of the company’s stock.

Global Medical REIT Stock Performance

NYSE:XRN opened at $37.11 on Monday. Global Medical REIT has a 1 year low of $29.05 and a 1 year high of $39.93. The firm has a 50 day moving average of $36.60 and a 200-day moving average of $35.90. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $491.34 million, a P/E ratio of 9.98 and a beta of 1.09.

Global Medical REIT (NYSE:XRN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, beating the consensus estimate of $0.83 by $3.95. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. The firm had revenue of $39.75 million during the quarter. As a group, sell-side analysts anticipate that Global Medical REIT will post 2.89 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 20th will be paid a $0.16 dividend. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, November 20th. Global Medical REIT’s payout ratio is presently 51.61%.

Global Medical REIT Company Profile

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.